Everton owner Farhad Moshiri hatches bizarre plan to sell club with £500m agreement with 777Partners up in the air

Everton owner Farhad Moshiri hatches bizarre plan to sell club with £500m agreement with 777Partners up in the air

FARHAD MOSHIRI is so desperate to sell  Everton he is willing to accept an offer in instalments.

The Toffees’ majority owner has agreed to quit for £500million after striking a deal with controversial American company 777Partners.

Farhad Moshiri is ready to sell Everton and accept 777Partners’ offer in instalmentsPA

But even if the takeover is ratified by the Premier League — which seems unlikely — the Miami-based financial group could walk into Goodison Park without putting down ANY hard cash.

The bizarre business plan is already under threat from two lenders who want a total of £300m paid back before any sale is completed.

Around £300m is also needed to complete the  construction of the Toffees’ new £505m stadium, which is scheduled to open by Christmas next year.

But SunSport understands 777 are now searching for backers to fund the takeover — despite claiming to be worth £4.8BILLION. 

Indeed, 777 are understood to owe £900,000 to British Basketball after agreeing to take a 45 per cent stake worth £7m in 2021.

The Americans, led by managing owner Josh Wander, have controlling interests in Genoa, Standard Liege, Hertha Berlin, Vasco de Gama and Melbourne Victory as well as basketball’s London Lions.

But SunSport has already revealed the combined losses across the football clubs ran to £200m last year.

Moshiri, who started investing in the Toffees from 2016 and now holds 94.1 per cent of the crisis club, has so far invested £750m.

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He already stands to lose at least a third of that huge investment at a club that, under his leadership, has racked up £431m in losses over the past four years. 

A loan of £20m from 777 went through last week to help with running costs.

That is money set to be deducted from the selling price.

But should 777 succeed in their purchase, against a backdrop of US lawsuits over fraud and racketeering, Moshiri may have to wait years to get the rest of that £500m.

His arrangement is based on the club starting to make a profit again.

Yet relegation would cost £100m, while next month’s tribunal following a Prem independent inquiry over alleged breaches of financial fair play rules could  result in a points deduction.

Manager Sean Dyche held his first meeting with 777 chief Wander and Co this week.

Dyche revealed: “They made it clear the deal has a long way to go to finality.

“It’s not done — it will take time with the ‘fit and proper’ tests.

“Their intent is to be here but  there is a way to go on the regulatory stuff.”

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